CBI calls for UK infrastructure investment

<p>The chancellor has been urged to prioritise infrastructure investment.</p>

The Confederation of British Industry (CBI) has called for the UK's chancellor George Osborne to prioritise spending on infrastructure to boost the speed of the economic recovery.

Though the UK's economy grew by 0.3 per cent in the first three months of the year and the manufacturing, services and construction industries are all expanding, there remain fears the recovery could stall unless investment is hastened.

Mr Osborne was urged by the UK's leading business group to galvanise investment in infrastructure as soon as possible to avoid the mistakes of the last spending round.

Director-general of the CBI John Cridland stated the government must be careful not to damage "fragile growth" with its spending plans.

He said: "The chancellor must prioritise areas that could propel a fledgling recovery and infrastructure investment should be in pole position."

A recent report from the Institute for Fiscal Studies and the Institute for Government said the UK could be stuck with austerity for many more years to come, with the current programme set to be in place until 2020.

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